Old controversy revisited: pricing, market structure, and competition

Frederic Lee

MPRA Paper from University Library of Munich, Germany

Abstract: In this essay, I examine the connection between pricing, profit mark ups, competition, and economic activity from a heterodox perspective. These issues are examined utilizing a two-industry Burchardt-Kaleckian production model and a labor-based mark up pricing model; the conclusion reached is that market structure and competition have no fundamental role in affecting pricing, profit mark ups, or economic activity. However, it is generally perceived in heterodox economics that competition does play an important role in the economy. This theme is discussed in conjunction with the going business enterprise.

Keywords: Heterodox; Pricing; Competition (search for similar items in EconPapers)
JEL-codes: B5 D4 (search for similar items in EconPapers)
Date: 2011-03-03
New Economics Papers: this item is included in nep-com and nep-hme
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:30490

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